About Data Annotation Tools
The data annotation tools are used for processing or labeling data machine learning and training different computer vision models. Data can be in any form that a human might understand such as text, audio, images or video, tabular data and other types of data. These tools can be majorly used by a data scientist to clean the data and annotated data to train machine learning models and also used in deep learning. There are various types and uses for data annotation in machine learning including classification of image or text, detection of an object and segmentation and other types of tools. However, all of these tools are built with direct manipulation via Graphical User Interfaces (GUI). Data Annotation plays major role in machine learning and deep learning applications.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that North America and Europe Players will contribute the maximum growth to Global Data Annotation Tools market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amazon Mechanical Turk (United States), Lionbridge AI (United States), Edgecase (United States), Scale AI (United States), CloudApp, Inc. (United States), Hive AI (United States), Figure Eight (United States), Humans in the Loop (Bulgaria), Clickworker (Germany), Appen (Australia), Dbrain (Russia), Webtunix AI (United States), IBM Corporation (United States), Labelbox, Inc. (United States), Trantor (United States), Netguru (Poland) and DataLoop (Israel) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Data Annotation Tools market by and Region.
On the basis of geography, the market of Data Annotation Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-User Industry, the sub-segment i.e. Self-Driving will boost the Data Annotation Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Annotation Tools, the sub-segment i.e. Bounding Boxes will boost the Data Annotation Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Data Annotation Types, the sub-segment i.e. Image will boost the Data Annotation Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Price, the sub-segment i.e. Community Edition will boost the Data Annotation Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Data Annotation Techniques, the sub-segment i.e. Manual will boost the Data Annotation Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Data Annotation Tools are Trending Due to the Online Search Engines Needs Huge Amount of Datasets to Improve the Quality of Its Search, Automatic Annotation Technique is the Most Efficient and Requires Least Time and Rising Trend of Computer Vision Annotation Tool (CVAT) Which Helps to Annotate Image and Video for Computer Vision Algorithms
Market Growth Drivers:
Rapid Growth in Artificial Intelligence is a Significantly Growing Demand for Data Annotation Tools, Data Annotation Tools Are Extremely Used in Various Field Such as Self Driving, Robotics, Automotive and Healthcare, Rising Demand for Annotated Data to Improve the Machine Learning Models and AI Models or Automated Applications Provide a Totally Different and Seamless Experience for End-Users
Challenges:
The Data Annotation is Crucial Issue behind a Models Accuracy and Automatic Image Annotation is Not Suitable for Unsupervised Learning Process
Restraints:
Data Annotation is Time Consuming and Worth the Trouble and Manual Data Annotation is Very Slow Process
Opportunities:
Innovation in Artificial Intelligence and Machine Learning Technology which Provides the Advantages to Different Fields Globally and Data Annotation Tools is Widely Used Self-Driving Vehicles
Market Leaders and their expansionary development strategies
In July 2019, dSPACE, the leading provider of solutions for the development of network, autonomous, and electrically powered vehicles company acquired the start-up company understand.ai. Both will invest in core tasks ‘AI application’ and ‘cloud-based tools’.
In January 2020, IBM, an American multinational information technology company launched an annotation tool that taps artificial intelligence (AI) to label images. The new tool uses AI to helps developers to annotate data without manually drawing labels on the complete dataset of images. Simply select the “Auto label” button from the dashboard automatically labels uploaded image samples. This is optimized for data-hungry machine learning and cloud-native workloads. and In March 2019, Alegion, a leading training data preparation platform for artificial intelligence (AI) and machine learning launched its new suite of image and video annotation tools for training data in computer vision initiatives. These new capabilities are specialized for data tasks like image classification, object localization, and semantic segmentation, and are being used by customers across retail, automotive, technology, government, and financial services.
Key Target Audience
Software Development Company, Data Annotation Tools Provider, Artificial Intelligence Companies, Data Science Consulting Firm, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.